Agfa's buy of printing plate manufacturer Lastra almost complete
Press release from the issuing company
Mortsel (Belgium), August 11, 2004 -- Following the receipt of approval from the European antitrust authorities, Agfa-Gevaert today announces that the acquisition of Lastra, the Italian manufacturer of plates, related chemicals and equipment for the offset printing industry will be closed at the end of August. The transaction was based on an enterprise value of 155 million Euros and is expected to be accretive from the first year.
Lastra, headquartered in Manerbio, Italy, was founded in 1969 and has experienced rapid growth. Its 2003 sales amounted to 226 million Euros.
Lastra has historically focussed on analogue printing plates and entered the digital plate market through its acquisition in 2002 of Western Litho Plate & Supply Co., based in the US. Today, Lastra has six factories, in Italy and the US, and employs around 900 staff.
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